Pain trade right now? Being long vol in either direction.
Everyone's positioned for a big move — loading puts for downside protection or calls for breakout continuation. Classic setup where the market just grinds sideways and bleeds premium.
When both sides are crowded, the dealer's best friend is time decay. We chop until vol gets flushed out, then we get the real move.
Everyone's positioned for a big move — loading puts for downside protection or calls for breakout continuation. Classic setup where the market just grinds sideways and bleeds premium.
When both sides are crowded, the dealer's best friend is time decay. We chop until vol gets flushed out, then we get the real move.